Form 1098 for Rental Property Owners: Getting Every Box Onto the Right Schedule E Line
Form 1098 Box 1 goes to Schedule E line 12 and Box 5 to line 9, but rental points must be amortized over the loan term — never expensed in year one.
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Tax Deductions
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Furniture Flipping Isn't a Hobby to the IRS: A Reseller's Guide to COGS, Mileage, and the 2026 1099-K Rules
Flipping furniture is a Schedule C business, not a hobby: deduct per-piece COGS and 2026's split IRS mileage rate; expect no 1099-K under $20,000/200 sales.
Teaching CPR for a Living: The Real Economics of a CPR Training Business
AHA eCards run $6–7 for BLS but about $20 for a Heartsaver combo — price each US course from its own cost card, not one flat seat price.
Hiring Your Spouse for a Section 105 HRA: Deducting Family Medical Bills
A one-employee Section 105 HRA lets a sole proprietor deduct the family's medical spend — premiums included — against income and self-employment tax.
Are You Leaving the New $6,000 Senior Deduction on the Table?
The new US senior deduction gives filers 65+ up to $6,000 through 2028, shrinking 6 cents per dollar of MAGI over $75,000 single or $150,000 joint.
That Thank-You Letter Is a Tax Document: What Your Nonprofit Must Put in Every $250-Plus Donor Acknowledgment
A gift of $250 or more needs a contemporaneous written acknowledgment before the donor files — five IRS-required elements, or the deduction fails.
The Owner-Operator Trucker's 2026 Per Diem Deduction: Why You Deduct 80%, Not 50%
Owner-operators deduct 80% of the $80 IRS transportation per diem rate — $64 a day — not 50%. Claim only overnight days and prorate partial days at 75%.
Renting Out Your Car on Turo? The Tax Bill Is Bigger Than Your Payouts Suggest
Turo hosting is Schedule C self-employment income, not Schedule E rent — 15.3% SE tax, a gross 1099-K, and an IRS mileage rate that changed midyear 2026.
You Volunteer Every Weekend. Here's What the IRS Actually Lets You Deduct
Volunteer hours are worth $0 on your return, but the IRS lets you deduct 14 cents a mile, supplies, and uniforms — and two 2026 changes shrink who benefits.
The Backyard Cottage P&L: What an ADU Really Costs, Earns, and Does to Your Taxes
ADU rental income goes on IRS Schedule E: split shared costs by square footage, depreciate the unit over 27.5 years, and plan for 25% recapture tax at sale.
Employee Achievement Awards: Tax-Free Service and Safety Recognition Within the $400 and $1,600 Limits
Tangible service or safety awards are tax-free under IRS rules up to $400, or $1,600 under a written plan; cash and gift cards count as taxable wages.
Your Business Cell Phone Can Be 100% Tax-Free: What the IRS Actually Requires
Employer cell phones are tax-free with no call logs under IRS Notice 2011-72 if provided for business reasons; internet needs an accountable plan and receipts.